Top 10 Natural Gas Producing Countries: Natural gas remains a crucial energy source as the world gradually moves toward renewable energy. Understanding global natural gas production can help investors make informed decisions. Here’s an updated list of the top 10 natural gas-producing countries in 2024.
Top Natural Gas Producing Countries: Global Trends in Natural Gas Production
In 2023, global natural gas production slightly rose to 4.05 trillion cubic meters, up from 4.04 trillion cubic meters in 2022. The United States saw a 4.2% increase in production, while Russia experienced a 5.2% decline due to reduced exports to Europe. Despite Russia’s drop, the country remains the second-largest natural gas producer and exporter.
Also Read: Top 10 Oil-Producing Countries and Industry Trends
Top 10 Natural Gas Producing Countries in 2024
1. United States
Production: 1.35 trillion cubic meters
The US leads the world in natural gas production, accounting for nearly 25% of the global output. Innovations like fracking and horizontal drilling have fueled the country’s production surge. In 2023, the US also became the largest exporter of liquefied natural gas (LNG), particularly to Europe.
2. Russia
Production: 586.4 billion cubic meters
Despite its reduced exports to Europe, Russia holds the largest natural gas reserves globally. The country’s state-owned Gazprom controls a significant portion of the world’s natural gas resources, but geopolitical factors have pushed Russia to focus more on exporting to China and India.
3. Iran
Production: 251.7 billion cubic meters
Iran is the third-largest producer, holding vast reserves shared with Qatar. The country aims to boost its production by 30% over the next five years, although competition from Qatar’s LNG projects poses challenges.
4. China
Production: 234.3 billion cubic meters
China’s focus on reducing pollution has led to a sharp increase in natural gas production, rising by over 92% since 2013. The country remains heavily reliant on imports from Australia, the US, and Russia to meet its growing demand.
Also Read: A Comprehensive Guide to Cryptocurrency Investments
5. Canada
Production: 190.3 billion cubic meters
Canada is a major producer and exporter of natural gas, primarily to the US. Most of its reserves are in the Western Canadian Sedimentary Basin, but the country lacks the infrastructure to serve other international markets, such as Europe.
6. Qatar
Production: 181 billion cubic meters
Qatar ranks sixth globally, with large reserves in the North Field, the world’s biggest natural gas field shared with Iran. The country is rapidly expanding its LNG export capacity to compete with other major exporters like Russia.
7. Australia
Production: 151.7 billion cubic meters
Australia has significantly increased its natural gas production in recent years. The majority of its reserves are located in offshore fields, and the country is a leading LNG exporter, second only to the US in capacity.
8. Norway
Production: 116.6 billion cubic meters
Norway has become Europe’s largest supplier of natural gas, accounting for over 30% of the EU’s supply in 2023. The country continues to ramp up production to meet European demand as the region moves away from Russian energy.
9. Saudi Arabia
Production: 114.1 billion cubic meters
Saudi Arabia’s natural gas production has steadily grown over the past decade. The country plans to start exporting natural gas by 2030, with ongoing investments in its largest gas field, Jafurah.
Also Read: 2025 Volvo EX90: The Ultimate Electric Luxury SUV for Families
10. Algeria
Production: 101.5 billion cubic meters
Algeria rounds out the top 10, with most of its exports feeding Europe’s natural gas demand. The country expects to see modest production growth over the next few years.
Natural Gas Demand and Its Future
In 2023, global natural gas demand grew by just 0.5%. China’s demand surged due to its post-pandemic recovery, while Europe’s demand dropped significantly. The move toward renewable energy and increased nuclear power generation has contributed to Europe’s declining reliance on natural gas.
However, natural gas remains a key energy source for heating, electricity generation, and industrial processes. As the transition to renewables continues, natural gas will likely serve as a bridge fuel due to its lower carbon emissions compared to coal and oil.
This overview of the top natural gas-producing countries highlights the global energy landscape and the shifting dynamics in response to geopolitical events and environmental targets. Natural gas remains essential but faces growing competition from renewable energy sources.
Also Read: The New Way to Chat: Redefining Phone Conversations with AI App
FAQs About Natural Gas Investing
What is natural gas made of?
Natural gas consists primarily of methane and is formed from the decomposition of organic material over millions of years under high pressure and heat.
How is natural gas produced?
Natural gas is extracted from subsurface rock formations or through fracking. After extraction, it is separated from other liquids and processed to meet quality and safety standards.
Is natural gas considered clean energy?
Though a fossil fuel, natural gas burns cleaner than coal and oil, producing fewer emissions. However, it’s not carbon-free.
How much natural gas is left?
Current reserves are expected to last about 53 years at the current consumption rate, though more sources may be discovered.